New Delhi, Nov 17: Gold prices rose Rs 300 to Rs 1,29,700 per 10 grams in the national capital on Monday amid firm trends in overseas markets. Gold of 99.5 per cent purity also advanced by Rs 300 to Rs 1,29,100, inclusive of all taxes.
However, silver prices declined Rs 1,000 to Rs 1,63,800 per kilogram on Monday.
In the international markets, spot gold was trading flat at USD 4,077.35 per ounce while spot silver was quoting 0.66 per cent higher at USD 50.89 an ounce.
Renisha Chainani, Head – Research at Augmont, said, “Last week’s larger market sell-off, which was triggered by hawkish comments from US Federal Reserve officials that dampened expectations for a December interest rate cut, caused gold prices to drop 2.5 per cent and silver prices to drop 5.5 per cent.”
Chainani further said the US Fed is citing the shutdown blackout as justification for maintaining unchanged interest rates in December. (PTI)
